In this article, we discuss 5 best single digit stocks to buy now. If you want to read about some more single digit stocks, go directly to 15 Best Single Digit Stocks to Buy Now.
5. ACCO Brands Corporation (NYSE:ACCO)
Number of Hedge Fund Holders: 16
Share Price as of October 21: $4.33
ACCO Brands Corporation (NYSE:ACCO) designs, manufactures, and markets consumer, school, technology, and office products. It is one of the best single digit stocks to invest in. On August 12, ACCO Brands Corporation said that it has published its 2021 Environmental, Social and Governance Report. This outlines the company’s commitment to ESG and also includes an update on its diversity goals and publicly committed sustainability.
On October 17, Barrington analyst Kevin Steinke maintained an Outperform rating on Acco Brands (NYSE:ACCO) stock and lowered the price target to $7 from $11, highlighting that the company’s near-term business conditions are challenging but long-term outlook remains favorable.
At the end of the second quarter of 2022, 16 hedge funds in the database of Insider Monkey held stakes worth $28.8 million in ACCO Brands Corporation (NYSE:ACCO), compared to 17 the preceding quarter worth $44.3 million.
4. AMC Entertainment Holdings, Inc. (NYSE:AMC)
Number of Hedge Fund Holders: 18
Share Price as of October 21: $6.35
AMC Entertainment Holdings, Inc. (NYSE:AMC) engages in the theatrical exhibition business. It is one of the top single digit stocks to invest in. On September 26, AMC Entertainment filed to sell up to 425 million AMC Preferred Equity Units, its new securities that have seen a price collapse in the middle of the sour market and investor backlash.
On October 12, B Riley analyst Eric Wold maintained a Neutral rating on AMC Entertainment (NYSE:AMC) stock and lowered the price target to $7.50 from $11, noting the continued uncertainties around film slate timing and productions.
At the end of the second quarter of 2022, 18 hedge funds in the database of Insider Monkey held stakes worth $120.6 million in AMC Entertainment Holdings, Inc. (NYSE:AMC), compared to 16 in the preceding quarter worth $407 million.
3. Ambev S.A. (NYSE:ABEV)
Number of Hedge Fund Holders: 18
Share Price as of October 21: $2.83
Ambev S.A. (NYSE:ABEV) distributes and sells beer, draft beer, carbonated soft drinks, other non-alcoholic beverages, malt, and food products. It is one of the premier single digit stocks to invest in. On July 28, the firm posted earnings for the second quarter of 2022, reporting a revenue of R$17.99 billion, up more than 14.4% year-on-year.
At the end of the second quarter of 2022, 18 hedge funds in the database of Insider Monkey held stakes worth $185.7 million in Ambev S.A. (NYSE:ABEV), compared to 18 the preceding quarter worth $210.6 million.
In its Q2 2022 investor letter, Harding Loevner, an asset management firm, highlighted a few stocks and Ambev S.A. (NYSE:ABEV) was one of them. Here is what the fund said:
“This quarter, individual stock selection decisions led to a reduction in our overweight to Consumer Staples. We sold Ambev S.A. (NYSE:ABEV), Brazil’s dominant brewer with strong franchises across South and Central America, which we owned since 2003. Its profit margins have declined in recent years, and management’s strategy to restore them is to entice Brazilians (whose beer consumption is already high) to trade up to premium brands. Despite our high regard for Ambev’s management, we think this strategy will be unsuccessful so long as the Brazilian consumer is under financial pressure from inflation and high unemployment. Ambev is still a high-quality, growing company, but we think there are more appealing opportunities in Brazil and beyond.”
2. Archer Aviation Inc. (NYSE:ACHR)
Number of Hedge Fund Holders: 22
Share Price as of October 21: $2.68
Archer Aviation Inc. (NYSE:ACHR) is an urban air mobility company which designs, develops, manufactures, and operates electric vertical takeoff and landing aircrafts to carry passengers. It is one of the major single digit stocks to invest in. The firm was previously known as Atlas Crest Investment Corp but changed the name to Archer Aviation Inc. It was founded in 2018 and is headquartered in Palo Alto, California.
On September 12, Barclays analyst David Zazula maintained an Equal Weight rating on Archer Aviation (NYSE:ACHR) stock and lowered the price target to $4 from $5.50, noting that the company’s planned commercial launch dates are showing tangible progress.
At the end of the second quarter of 2022, 22 hedge funds in the database of Insider Monkey held stakes worth $63.5 million in Archer Aviation Inc. (NYSE:ACHR), compared to 28 in the previous quarter worth $78 million.
1. ADT Inc. (NYSE:ADT)
Number of Hedge Fund Holders: 23
Share Price as of October 21: $8.55
ADT Inc. (NYSE:ADT) provides security, automation, and smart home solutions to consumer and business customers in the United States. It is one of the prominent single digit stocks to invest in. On August 30, Uber stated that it has partnered with ADT Inc to introduce a new option of safety to its app section. This integration will help the users in the United States to get live help, via text or phone, from ADT professional monitoring agents.
At the end of the second quarter of 2022, 23 hedge funds in the database of Insider Monkey held stakes worth $214 million in ADT Inc. (NYSE:ADT), compared to 21 in the previous quarter worth $288.6 million.
In its Q2 2021 investor letter, Ariel Investments, an asset management firm, highlighted a few stocks and ADT Inc. (NYSE:ADT) was one of them. Here is what the fund said:
“During the quarter, we initiated a position in ADT Inc. (NYSE:ADT) in Ariel Fund and Ariel Appreciation Fund. Buying the same position across both strategies is rare but shows our enthusiasm for the name. Here, we have a 140-year old company that has been in and out of public ownership and as a result, everyone has looked right past it. In our view, ADT’s brand and national presence in the security industry is unmatched, resulting in leading market share, a high recurring revenue base and attractive free cash flow generation. While some are concerned do-it-yourself competition will erode the installation and technology-driven moat around the business, we believe the company is well-positioned to benefit from the secular growth of smart home adoption along with strategic partnerships with companies including Google.”
You can also take a peek at 10 Best Guru Stocks To Buy Now and Top 10 Health Insurance Stocks to Buy.
